Tax Revenue Down in 44 States

The Rockefeller Institute of Government released a report yesterday showing that tax revenue declined for the third quarter in 44 states. The report found that states collected 10.7 percent less revenue than the previous year. And the researchers predicted that tax collections for the fourth quarter are likely to be weak. All three major sources of states’ tax revenue — sales, personal income and corporate income taxes — shrank in the third quarter.

View TaxAnalysts' David Brunori's opinion in its entirety on TAX.com.